Evolution of science and technology brings pace in the world civilization. Banking is a changing industry. Beginning from the roadside of Lombardy Street of Italy to modern exquisite building, the evolution of technological improvement of banks never ends. In the early period of banking, people used to use their hands figures for computing. Later many innovative devices we are introduced and used to provide better banking facilities. Then the use of computer in banking activities in the 60s of the twentieth century was an unprecedented incident. The main purpose was to ensure mathematical accuracy and promptness in providing banking facilities like deposits and withdrawals. Every bank tries to use latest technology to provide its customers high quality banking services. In this modern world, bank is one of those reliable institution through which business contact with any corner of the world can be established. The improvement in the Information Technology narrows down the distance. Access to banking service is easy and convenient to its clients. They need not to worry to carry cash or cheques with them. A plastic card is sufficient enough for fulfillment of his monetary need. Electronic banking brings unprecedented changes in the world wide banking sector. With the help of this technology, the client directly offered newer types of services. This paper is intended to have a better understanding about several issues of electronic banking, the system of electronic banking, components of electronic banking and how it changes a particular banks operation in this case IFIC Bank Ltd.

Meaning of Electronic Banking:

For many consumers, electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking now involves many different types of transactions. Electronic banking, also known as electronic fund transfer (EFT), uses computer and electronic technology as a substitute for checks and other paper transactions. EFTs are initiated through devices like cards or codes that let you, or those you authorize, access your account. Many financial institutions use ATM or debit cards and Personal Identification Numbers (PINs) for this purpose. Some use other forms of debit cards such as those that require, at the most, your signature or a scan. The federal Electronic Fund Transfer Act (EFT Act) covers some electronic consumer transactions. [pic]

Figure: Electronic banking modes

Electronic Fund Transfers

EFT offers several services that consumers may find practical: • Automated Teller Machines or 24-hour Tellers are electronic terminals that let you bank almost any time. To withdraw cash, make deposits, or transfer funds betWeen accounts, you generally insert an ATM card and enter your PIN. Some financial institutions and ATM owners charge a fee, particularly to consumers who don’t have accounts with them or on transactions at remote locations. Generally, ATMs must tell you they charge a fee and its amount on or at the terminal screen before you complete the transaction. Check the rules of your institution and ATMs you use to find out when or whether a fee is charged.

• Direct Deposit lets you authorize specific deposits, such as paychecks and Social Security checks, to your account on a regular basis. You also may pre-authorize direct withdrawals so that recurring bills, such as insurance premiums, mortgages, and utility bills, are paid automatically. Be cautious before you pre-authorize direct withdrawals to pay sellers or companies with whom you are unfamiliar; funds from your bank account could be withdrawn fraudulently.

• Pay-by-Phone Systems let you call your financial institution with instructions to pay certain bills or to transfer funds betWeen accounts. You must have an agreement with the institution to make such transfers.

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...STATISTICS AND MATHEMATICS-II
“ONLINEBANKING”
The summary of a survey conducted in order to find the awareness and usage of Onlinebanking.
INDEX
SR.NO.
CONTENTS
PAGE
1)
Index
1
2)
Introduction to OnlineBanking
2
3)
Sources of Data
3
4)
Application of Mean
8
5)
Merits of OnlineBanking
8
6)
Demerits of OnlineBanking
9
7)
InternetBanking Risks
9
8)
Conclusion
10
INTRODUCTION TO ONLINEBANKING:
Onlinebanking (or Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society.
To access onlinebanking, the customer would go to the financial institution's website, and enter the onlinebanking facility using the customer number and password.
Onlinebanking facilities offered by various financial institutions have many features and capabilities in common, but also have some that are application specific.
The common features fall broadly into several categories
A bank customer can perform some non-transactional tasks through onlinebanking,...

...1
. INTRODUCTION
Internet banking is a product of e-commerce in the field of banking and financial services. In what can be described as business to customer domain for banking industry, Internet banking offers different online services like balance enquiry, balance transfer, opening account,calculate EMI etc. Mostly, these are traditional services offered through internet as a new delivery channel.Banks are also offering payment services on the behalf of their customers who shop in different e-shops, e-malls etc. Further, different banks have different levels of such services offered, starting from level-1 where only information is disseminated through internet to level-3 where online transactions are put through
PURPOSE OF THE SYSTEM
1.SECURITY: There is a lot of security of data on this content management system. One cannot open our system without knowing the password. Immediately after opening login screen will appear on screen. Only after entering the correct username and password user can operate our system.
2.REFERENTIAL INTEGRITY: User cannot change the date in the transaction files.Addition of data can be done only on the master files date in transaction files cannot be entered until addition is done on the master files.
3.EASY RETRIEVAL OF DATA:Data is retrieved easily and quick using sql commands. Online commands are used to retrieve huge amount of data....

...OnlineBanking:
How Technology has Affected the Bank Industry
Aluscine Kabia
Diana Mickle
Jennifer Ross
Betty Tekeste
University of Phoenix
COM525: Managerial Communication and Ethics
Edward L. Dempsey
March 14, 2005
Modern technology has set the stage for today's industries to adopt faster, more effective and efficient tools to improve their business and productivity. A vast majority of organizations within various industries are using new technology to introduce changes to their business operations. Simply stated, these changes are manifested in what they do, with whom they do it, how they do it, and the tools they use to get it done. However, it is worthwhile to note that, while technology can offer beneficial changes to organizations, change usually comes with both positive and negative consequences. In any business, if technology serves as a catalyst for improvement without significant drawbacks, adopting the changes that it brings will be more beneficial than harmful.
Onlinebanking is a technological advancement that has brought about such a change. The banking industry has adopted virtual banking to improve business process, infrastructure, and customer relationships. These changes have had a major impact on the banking business, but more transparently on the customers of onlinebanking. The matrix measures for the...

...DR.MAC
INTRODUCTION
Onlinebanking(Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtualbank, credit union or building society. It may include of any transactions related to online usage.
Onlinebanking lets you take of yourbanking needs by logging on to your bank's website with a customer number or user name and password, same financial institutions have set up additional security steps for access, but there is no consistency to the approach adopted. You can access your checking, savings, credit card, mortgage and loan accounts with just a few mouse clicks, anytime and anywhere.
There are several advantages of using onlinebanking, you don't have to leave your home place to do your banking services, you can access your accounts online in a matter of seconds. Internet banking is an environmentally friendly option. You can choose to receive your monthly statements electronically instead of by mail and save a lot of paper in the process. You can view your statements in order of date and are likely to find the information you're looking for quicker than flipping through pages of old paper statements. This system can help you...

...Significance of the Study 5
2. LITERATURE REVIEW 6
2.1. OnlineBanking 6
2.2. History of OnlineBanking 6
2.3. General Statistics 7
1. INTRODUCTION
1.1. Background Information
Jumuia Bank is a renowned bank in Kenya which has over 46 branches nationwide in Kenya. Its headquarters is located in Nairobi in Hurlingham, Lenana Road, Jumuia house, third floor. In each province, there at least 5 branches, so its network is quite large and well spread. As at the close of 2008, Jumuia Bank had a staff establishment of 2,000 employees. Started in 2006, the financial institution has been certified by the Central Bank of Kenya (CBK), and it provides quite a number of services, inclusive of:
 Banking services
 Loan grants
 Mortgage services
 Small Micro Enterprise services
 Corporate activities
 Financial advice
 Issuance of bankers cheques
 Insurance services(Latest Implementation)
 Mobile Banking
 Foreign Exchange services
 ATM services, etc
1.2. Research Problem
Over the recent years, Jumuia Bank has grown to be a well known and respected financial institution, having spread its wings nationwide from a figure of 3 million registered customers in 2007 to a figure of 6.9 million in 2009, quite a rapid growth. The number is so big and after research on the company, and most financial institutions, I realized that the company could actually double this...

...ONLINEBANKING is the banking service that allows the customers to conduct financial transactions on the computerized networks such as internet through secure website with a particular bank. Onlinebanking has no physical presence so the customer can perform banking activities at any place which has got the internet network. Onlinebanking comprises of two things that is internetbanking and sim banking. Onlinebanking through traditional banks enable customers to perform all routine transactions, such as account transfers, balance inquiries, bill payments, and stop-payment requests, and some even offer online loan and credit card applications. Account information can be accessed anytime, day or night, and can be done from anywhere. A few online banks update information in real-time, while others do it daily.
The development of modern home onlinebanking services were the distance banking services over electronic media from the early 1980s. The term online became popular in the late 1980s and referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line. ‘Home banking’ can also refer to the use of a numeric keypad to send tones down a phone line...

...Project Proposal
OnlineBanking in general Askari Bank(in particular)
Prepared By: Presented To:
Saad Majid Sheikh Dr. Ali Sajid
Nadia Babar Productivity Management
Khalid Sajjad Akbar NIMS
Sohail Ashraf
November 25, 2001
Project Synopsis
In this age of Information Technology all the fields of life are being affected by new inventions and innovations. Almost all kind of organizations are steeping into the field of IT, in an effort to increase their productivity and expand their customer bank. Same goes for the Banking Sector. Today all the banks of the world are adopting the tool of On-Line Banking. Since it is the easiest way of banking yet lesser time consuming, the world has gone for it.
The need of ON-LINE Banking was felt in south Asia during the last 5 to 7 years. This concept emerged as an essential for successful banking techniques. Although foreign banks were pioneers of bringing this concept to South-Asia but they have yet to commence On-Line banking in Pakistan. Seeing brighter future prospects, ASKARI Bank has taken the lead and stepped into this arena. Seeing their performance the group intends to look into this field to explore the pros and cons of this system of banking and how this setup can enhance overall nation’s productivity.
Project Statement:
The group intends to work for...